The company said that the funding will help Arcion continue its breakthrough work with ARC-4558, a topical clonidine gel for alleviating moderate and severe pain associated with diabetic neuropathy. Arcion said that ARC-4558 offers an alternative to current systemic treatments for neuropathic pain, which often induce serious side effects.
James Campbell, CEO of Arcion, said: “We are pleased at the positive response we’ve gotten from the investment community in regards to Arcion. Their support validates our vision of offering pain relief to millions of patients, and doing this in a way that does not detract from quality of life.”